Vietnamese Gold Prices Slow Down Amid Domestic Demand Cooling

Gold prices in Vietnam are falling more slowly than global prices as domestic demand cools down. The price of SJC gold bars at major retailers such as Saigon Jewelry Company, DOJI Group, PNJ Group, and Bao Tin Minh Chau has been listed between 141.3-144.3 million VND/ounce, with a slight decrease in some brands.

The current difference between domestic and international gold prices is approximately 11.5 million VND/ounce, equivalent to 8.7%, which is lower than the 29.7 million VND/ounce on March 24th. The buy-sell spread in Vietnam has narrowed to 300,000 VND/ounce.

Market experts believe that the market is showing signs of cooling down due to weakened demand since June, with investors becoming more cautious and fewer buyers entering the speculative market as prices cooled down.